| (a) When managing a trust fund account, a program provider
must:
(1) maintain documentation of an individual's personal
funds that:
(A) follows generally accepted accounting principles;
and
(B) includes:
(i) the individual's name;
(ii) identification of individual's representative
or person assigned to receive the individual's income, if any;
(iii) admission date;
(iv) individual's earned interest, if any;
(v) documentation of each transaction; and
(vi) receipts for purchases and payments, including
cash register tapes or sales statements from a vendor;
(2) ensure an individual's personal funds are expended
only for the individual's use and benefit;
(3) reimburse the individual if the individual's personal
funds are lost or stolen while in the program provider's control;
(4) not charge an individual or LAR for the administrative
handling of a trust fund checking account;
(5) provide the individual or LAR with a quarterly
statement for the individual's personal funds held by the program
provider in a trust fund account that includes the following:
(A) name and location of the financial institution
for the trust fund account;
(B) account number for the trust fund account;
(C) the statement coverage period;
(D) the balance at the beginning of the statement period;
(E) all deposits and withdrawals;
(F) interest earned, if any; and
(G) ending balance; and
(6) retain all statements from the financial institution
regarding the trust fund account.
(b) A program provider must not charge bank fees to
an individual or LAR if the individual's personal funds are maintained
by the program provider in:
(1) a pooled checking account; or
(2) an individual checking account at a financial institution
chosen by the program provider at the written request of the individual
or LAR.
(c) If an individual or LAR chooses to have the program
provider maintain the individual's personal funds in an individual
checking account at a financial institution chosen by the individual
or LAR, the individual or LAR must pay the bank fees.
(d) If the trust fund account is a pooled checking
account, as described in §260.253(b)(1) of this subchapter (relating
to Establishing a Trust Fund Account), that pays interest, the program
provider must:
(1) distribute the interest to each individual for
whom the program provider maintains personal funds; and
(2) prorate the actual interest:
(A) at the time the financial institution pays the
interest; and
(B) on the basis of the individual's balance of personal
funds in the account at the time the financial institution pays the
interest.
(e) Within 72 hours after receiving a written request
from an individual or LAR for an accounting of the individual's personal
funds maintained in a trust fund account, a program provider must
provide the individual or LAR with a written record of the individual's
personal funds maintained by the program provider in a trust fund
account.
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